Kingwell Group Limited — M&A Activity 2000

Feb 1, 2000

Listed Company Information

FT HOLDINGS<0559> - Announcement FT HOLDINGS INTERNATIONAL LIMITED Announcement Summary: FT Holdings International Limited (the "Company") is negotiating with an independent third party not connected with a director, chief executive or substantial shareholder of the Company or any of its subsidiaries or its associates (as defined under the Rules Governing the Listing of Securities on the Stock Exchange), regarding the possible acquisition from such party of an interest of not less than 50% in a private company engaging in multi-media business, including the production and distribution of cartoon programs and other TV programs in the mainland China. Such acquisition may or may not be materialized. Shareholders are advised to exercise caution when dealing in shares of the Company. This statement is made at the request of the Stock Exchange. The directors of the Company (the "Directors") have noted the recent increase in the price and turnover of the shares of the Company and wish to state that save as disclosed below, the Company is not aware of any reason for such increases. The Company is negotiating with an independent third party not connected with a director, chief executive or substantial shareholder of the Company or any of its subsidiaries or its associates (as defined under the Rules Governing the Listing of Securities on the Stock Exchange), regarding the possible acquisition from such party of an interest of not less than 50% in a newly set up private company intending to engage in multi-media business, including the production and distribution of cartoon programs and other TV programs in the mainland China. The negotiation is very preliminary at this stage and nothing has been agreed yet. Such acquisition may or may not be materialized. If and when any agreement is reached as to the acquisition, a further announcement will be made. Shareholders are advised to exercise caution when dealing in shares of the Company. Save as disclosed above, the Directors confirm that there are no negotiations or agreements relating to intended acquisitions or realization which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature. Made by the order of the Board of FT Holdings International Limited the Directors of which (except for Mr. Wu Wing Kit who is out of town and cannot be contacted) individually and jointly accept responsibility for the accuracy of this statement. By Order of the Board Lai Kam Wing, Jimmy Managing Director Hong Kong, 31st January, 2000